RIYADH : Saudi Energy Minister Khalid al-Falih said on Thursday that OPEC should cut oil output to 32.5 million barrels per day (bpd), the lower end of a previously agreed range, to balance the market. The details are meant to be finalised when OPEC ministers meet in Vienna on Nov. 30. Falih and other ministers have said previously that OPEC would reduce output to a range of 32.5-33.0 million bpd. He said talks were ongoing with Qatar’s Energy Minister Mohammed al-Sada, who had invited him to Qatar to continue discussions. A number of OPEC energy ministers are likely to meet informally in Doha on Friday to try to build consensus over decisions taken by the full group in September in Algiers.

Source: Libya Today November 17, 2016 13:11 UTC